WEDNESDAY, 17 OCT 2018

 

CONNECT

Facebook Linked In Twitter
INB_1000_Eng_03/08-15/11_728x90px
GloriaJeans_266x90px
IMH LTD

Prodromou: Cyprus Satisfied with UNSG's Report on his Good Offices Mission

Angelides: Cyprus and Egypt Willing to Upgrade their Defence Cooperation

IMH LTD
INB_1000_Eng_03/08-15/11_468x60px

INTERNATIONAL

brought to you by CIPA

Apple Hires 300 Specialists from UK Company

Apple Hires 300 Specialists from UK Company

Apple is adding 300 computer chip engineers to its team after striking a deal to hire them from one of its British suppliers.

It is paying Dialog Semiconductor $300m (£227m) for the acquisition, which also includes some of the Reading-based company's patents and facilities.

Apple has long used Dialog's products to monitor and control power consumption in its iPhones and iPads.

The deal represents one of Apple's biggest takeovers in headcount terms.

"Dialog has deep expertise in chip development and we are thrilled to have this talented group of engineers who have long supported our products now working directly for Apple," said the handset-maker's hardware technologies chief Johny Srouji.

Staff involved are based in Swindon, Livorno Italy, Nabern Germany, and Neuaubing Germany.

The Californian company already designs its own computer processing units (CPUs) and last year announced it was ending a partnership with another UK company, Imagination Technologies, to create its own in-house graphics processing units (GPUs) too.

Last November, rumours emerged that Apple also planned to phase out use of Dialog's components, causing the supplier's shares to tumble 20%.

However, those fears appear to have been overstated since Apple has also announced it has pre-paid Dialog a further $300m to secure products from it over the next three years.

One expert noted that Apple had a reputation for liking to be in control.

"In the industry this kind of move is known as being more vertically integrated," said Ian Cutress, senior editor at the engineering-focused news site AnandTech.

"It's something that's already true of Samsung and its smartphones - for example it also makes its own displays.

"The benefits for Apple having full control at the component level should be lower overheads and therefore reduced costs.

"But a downside could be there's less fallback if something goes wrong."

Dialog said it expected the deal would be completed within the first six months of 2019.

The firm's chief executive told the BBC that he hoped his company's relationship with Apple would continue beyond 2021, but that the arrangement gave Dialog time to become less dependant on the US tech giant.

"For us to change in any other way would be more painful," said Dr Jalal Bagherli.

"They wanted to create their own solutions in-house. And we could accelerate that, but in the process monetise some of our intellectual property assets and also find a home for many of our employees in a good company - I think it's a win-win situation."

Over recent years, the UK's best known computer chip designer ARM was sold to Japan's Softbank fund, and Imagination Technologies was purchased by the China-backed investment firm Canyon Bridge.

Despite all this, Dr Bagherli said the industry was still "very healthy".

"The level of education and expertise in silicon and semiconductor design is high," he explained.

"This is why you have a high demand from overseas for this talent.

"I think it's something we can invest in more in this country because there's clearly demand from abroad to access this.

"For every purchase, that money can be released back into the economy to invest more in the sector."

Dialog's shares were trading about 24% above their opening price by mid-afternoon.

 

MORE ON INTERNATIONAL

Annual inflation Up to 2.1% in the Euro Area

The Euro area annual inflation rate was 2.1% in September 2018, up from 2.0% in August. A ...

Superdry in Profit Warning after Heatwave Hits Sales

Superdry shares have sunk by almost 30% after warning that profits will take a £10m ...

The £50 Note is Changing and Here's Why

The £50 note will not be scrapped and will instead get a plastic redesign, the Bank ...

FROM AROUND GOLDNEWS

   

Current Developments in the Funds Industry

All around the world, the funds industry is constantly growing and is currently one of the hubs the local industry is promoting. Regulatory developments in the ...
   

Annual inflation Up to 2.1% in the Euro Area

The Euro area annual inflation rate was 2.1% in September 2018, up from 2.0% in August. A year earlier, the rate was 1.5%. European Union annual inflation was ...
   

Audi Fined £700m Over Diesel Emissions Scandal

Audi has been fined €800m (£700m) to settle an investigation by German prosecutors into breaches of diesel emissions rules. The premium car ...
   

Netflix Hits New Subscriber Record

Netflix added seven million new customers in the three months to September, bringing its global total to more than 137 million. The stronger than expected ...
   

Arrivals and Departures of Travellers Increase in August

Arrivals of travellers in August 2018 reached 733.078 compared to 702.535 in August 2017, recording an increase of 4.3%, the Statistical Service of Cyprus ...
   

Angelides: Cyprus and Egypt Willing to Upgrade their Defence Cooperation

Defence Ministers of Cyprus and Egypt, Savvas Angelides and Mohamed Zak, have expressed the two countries` will to upgrade their defence cooperation, that is ...
   

Prodromou: Cyprus Satisfied with UNSG's Report on his Good Offices Mission

The Republic of Cyprus has expressed its satisfaction with the UN Secretary General`s report on his good offices mission, that was released on Monday 16 ...
   

Building a United Front on Financial Crimes

Financial institutions are concerned about cybercrimes, but don’t know how best to prevent them. In PwC’s 2018 Global State of Information Security ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Porsche_25/09-25/10_300x250px
Dale_Carnegie_LTM_300x250px

IMH LTD